Beijing Tianli Mobile Service Integration, INC. (300399.SZ) announced late on Wednesday that it plans to acquire a 100 percent stake in Shanghai Tiancai Insurance Brokers with its own capital for 8.97 million yuan.
Tianli expects to take advantage of the insurance brokerage firm's operations to help it develop Internet insurance business and improve competitiveness. The target registered 225,100 yuan in net loss in 2014 and 73,200 yuan in losses in the first 10 months of 2015.
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